Bulgaria Approves Joint Investment Venture with Qatar

Bulgaria PM Borisov and his Qatari counterpart Sheik Hamad al-Thani (standing, l and r.) at the signing ceremony for the setting up of a joint investment company, Doha, March 2010. Photo by BGNES

Bulgaria's Parliament has approved the setting up of a joint venture between the Bulgarian "National Company Industrial Zones" and the QatarInvestment Authority.

The future joint venture of the state entities of Bulgaria and Qatar will have a capital of at least USD 500 M, with all of the money being provided by the QatarInvestment Authority.

The funds will be invested in Bulgarian agriculture, real estate, tourism, finance, and other attractive investment opportunities.

The document approved on Wednesday also provides for the establishment of joint ventures between the governments of Bulgaria and Qatar in various economic spheres, the Bulgarian Ministry of Economy, Energy, and Tourism announced.